Gov. Brown’s new economic plan

Big corporations, labor unions, public policy organizations, Democrats and Republicans —all held hands and cheered for the “Governor’s Economic Development Initiative,” signed into law by Gov. Jerry Brown last week.

Designed to “grow our economy and create good manufacturing jobs,” it replaces the state’s 40 oft-criticized enterprise zones with a $750 million program that exempts the purchase of manufacturing and biotech R&D equipment from sales taxes, gives hiring credits to businesses in high unemployment areas, and creates a “California Competes” incentive program for out-of-state companies to locate or expand here.

“Those fellas in Texas, watch out California has some new tools,” enthused Gov. Brown.